Latest Videos
The information you requested is not available at this time, please check back again soon.
Former Bank of Canada Governor David Dodge said the increase in spending in the federal government’s new budget will make the central bank’s battle against rising prices more difficult.
Sales of previously-owned homes in the US fell in March from a one-year high, underscoring the lingering impact of high mortgage rates and elevated prices.
Mortgage rates in the US climbed past 7% for the first time this year.
Mortgage shopping isn’t getting much easier these days.
Blackstone Inc. collected more fees from big retail funds and credit strategies during the first quarter, compensating for the slower pace of deal exits.
Jul 13, 2017
BNN Bloomberg
Canada’s big banks increased their prime lending rates on Wednesday.
Hours after the Bank of Canada’s decision to increase its key interest rate 25 basis points to 0.75 per cent, Royal Bank (RY.TO), TD Bank (TD.TO), Bank of Nova Scotia (BNS.TO), CIBC (CM.TO), Bank of Montreal (BMO.TO), National Bank (NA.TO), Laurentian Bank, and HSBC Bank Canada all boosted their rates.
RBC was first to move, raising its prime rate 25 basis points higher to 2.95 per cent, effective July 13.
The rest followed suit with identical moves later in the afternoon.
Banks use the prime rate to help determine interest rates on various loans, including variable-rate mortgages.
Related
